Topic: 🌟 🌟 🌟 Satoshiround.com | ODD or EVEN game on-chain | Payout BET X 3! 🌟 🌟 🌟 - page 3. (Read 582 times)

I didn't really think people actually played games with a house edge so big. It really makes no sense.

You can just go on any dice site and play a very similiar odd/even game based on 50/50. Your edge would be 1%.

It seems that the only people who would use such a service would be to maybe mix some coins. Or if they had bad English and didn't understand the description or are bad at math.

 
I was pretty tired yesterday. so i use google translate part
Sorry
if we look at it, it looks like the edge of the house is fair enough,
I have not dared to try to gamble here, maybe wait for the incoming feedback before trying it

Which is why you use a nonce based system. You generate a server seed, ask the client for a client seed, and use those plus a nonce. Every result is predetermined, and this ensures that the house cannot cheat without detection, even if the client seed is not changed.


I do agree with this, however it is not provable. (which is the whole point of the misleading/inaccurate claim)

DarkStar_ I love talking to a pro user like you
Theoretically, if a miner finds a block and eliminates it (losing the reward) the transactions will be confirmed in one of the following blocks, obviously with a different hash.
The point is: for players nothing changes, in the sense that the result will always be random, and certainly can not be driven by us.
This makes it a safe system for those who bet much more than systems that are normally passed off as "100% safe" ie the server-seed and client-seed. No one changes the client-seed at every bet, unfortunately.
In addition, I repeat, discard a block to compromise the result is totally uneconomical, therefore has no reason to exist this possibility.

Chain-Bet has had a volume under 0.5BTC in the past month and a half. While they have a 37.5% edge, with such little volume, they could hurt more from variance.


LuckyBit has an edge below 3%, although they do seem to be inactive with development and paying extremely high transaction fees. With a higher fee environment, that's understandable, but as of right now, 1 sat/byte puts you into the next block (only 0.761 MB of transactions paying 1sat/byte or higher in the mempool right now) on the BTC network, and no one uses BCH, so it's even cheaper (literally 26 Kb of transactions in the BCH mempool).


No, I do agree that it's highly illogical. However:

Theoretically, you cannot verify whether a block was discarded or not, therefore the player cannot verify it. Hence, "misleading"; the player cannot prove that a miner didn't cheat. Calling it normal provably fair (imo) would be fine, but saying that it's better than ("101%") is misleading.

Are you telling us that a miner would discard a block and its reward to cheat and steal at most 0.005 BTC?
Furthermore, without the certainty of being able to mine the next block and include the bet?
It makes no sense, think about it. 

I did not compare our site to the national lottery, I just gave an example of the odds compared to risk, 1 chance against million, but millions of people played there ... simply because they like it, even against all the odds of winning.
In addition, on-chain games of this kind do not have a 1% HE, only casinos and big off-chain dice games - with deposit - have similar percentages.
The most similar game I know has an HE higher than 35%, but many players like it and use it.
I do not want to convince you, the data is objective, I just want to present our game in the right way possible.
Enjoy

Your house edge calculation is off. The correct calculation is (5/16)*1.5+(11/16)*-1, which yields an edge of 21.875%! That's 21 times greater than most dice games. The house edge on most lotteries is around 50%, but like leowonderful said, you aren't competing with them.

Also, "provably fair 101%" is inaccurate, or misleading at best. Theoretically, a pool/miner could choose to discard a block for whatever reason, and this would have made your bet unfair due to a different outcome being reached. You cannot prove that you weren't cheated by a miner, so the statement is somewhat misleading. While they would have no reason to discard a block at the moment, it's still a possibility.

Why are you comparing yourself to national lotteries when your main competitors here are going to be other number-based gambling sites that have lower house edges and thus get more traffic and plays than your site? It's great that you think your game is great and I respect that, but the fact remains that there's not much that differentiates similar number-gambling sites besides house edge, and an edge of 6.25% isn't exactly attractive for gamblers. You're just not competitive compared to other sites that have house edges of ~1% or less.

The house edge is the percentage that statistically the house holds for itself on X bets, it is not directly related to a good game or a bad game.
We can throw a die 1000 times and the result could always be 6, can I explain?
If we consider the house edge of national lotteries compared to the chances of winning, we have more chances to throw a coin into a well and express the desire to become millionaires  
In this case there are about 1 on 3 chance of winning with a payout multiplied by 2.5 times the bet and a 100% safe system.
We think it's a good game, moreover, we will do our best to raise the multiplier, lower the house edge and improve user experience.

Gonna suppose to say the same thing which its clearly a google translated reply.  

When it comes to odds i have seen this one Almost 1 on 3 chance of winning (31.25 %)  where if it would be calculated HE would be on 6.25% which is really high.

Not doubting fairness of your outcomes. Its just the edge is too high. Your game is analogous to casinos roulette when betting on red or black except with roulette you have 47.4% chance of winning while here there's only 31.5% chance of winning. Sure the payment is slightly larger (x2.5 vs x2) but it doesn't compensate enough for a higher edge.
Raise winners multiplier up to x3 (you would still have an edge) and you'd have a chance to get your site going on here. Still not sure about that since there are plenty of places for gamblers to play

First goal in our todo list is to lower the house edge.
Remember that the odds of winning are almost 1 in 3 and bets are paid with a multiplier of X 2.5, then 0.002 BTC is paid 0.005 BTC.
Another fundamental thing is security, the outcome is fair 101% because the blockchain guarantees that nobody can alter it, no client-seed, no server-seed, no manipulation. 
Enjoy

House edge is redonkulous
Odd numbers: 1 3 5 7 9 | Even numbers: 0 2 4 6 8 | House wins with: a b c d e f

You're not going to find many players with 33% edge, mate

Nice google translate!
Check the outcome of the google translate first before posting it anywhere.

Back to topic, how much is the house edge of this game? Sorry to ask as I'm not so good in math to calculate it, but it seems that it has higher house edge than the other odd even game type.

This is the official thread, all updates will be posted here

How to play
1. Choose the currency you prefer between Bitcoin BTC and Bitcoin Cash BCH
2. Listen to the spirits, focus your mind and choose: odd or even?
3. Send BTC or BCH (an amount between the minimum and the maximum allowed) to the corresponding address
4. Wait until your transaction is included in the first block, last character of that block will determine the result of your bet

How it works
. Each Bitcoin or Bitcoin cash block is essentially a hash in hexadecimal format, this means that the last character (the one that determines the outcome of the bet) can be: 0 1 2 3 4 5 6 7 8 9 a b c d e f
. You can bet that the last character of the block that first includes your transaction is ODD (1 3 5 7 9 = 31.25%) or EVEN (0 2 4 6 8 = 31.25%)
. If you guess, you win your bet multiplied x 3. If a letter comes out, the house wins.

Next Goals
1. Lower the house edge| MAY 08 UPDATE: HOUSE EDGE LOWERED, NEW PAYOUT: BET X 3 for both BTC and BCH
2. Increase the maximum bet limits (NOW 0.002 for BTC and BCH)
3. Improve user experience: send us your advice!

Provably Fair
1. The outcome of each bet is determined by the last character of the block that includes your transaction, so nobody can cheat
2. You can check the outcome of your bet from any existing blockchain explorer, the result will be the same and will remain written in the blockchain forever
3. The bet is verified with at least 2 confirmations. You can see in real time if you won

Have fun and good luck!